U.Today – Top Three News Stories

Bitcoin on Verge of Potential Golden Cross, Likely Scenarios?

As can be seen on Bitcoin charts, the flagship crypto may be about to form a golden cross, a significant technical pattern that often signals a bullish trend. If the golden cross is confirmed, there could be several scenarios for Bitcoin. Historically, it could lead to major price increases, with traders hoping for a breakthrough above $70,000, possibly reaching $75,000 or more. However, some experts warn that this crossover might mislead traders, leading to false breakouts, where prices rise quickly but then fall back. Additionally, a brief pullback could occur as traders take profits, but the market might regain momentum afterward, potentially driving prices higher again. Currently, Bitcoin is changing hands at $67,940, up 0.44% over the past 24 hours, per CoinMarketCap.

Shiba Inu Next in Line for Whale-Induced Rally

According to recent data, Shiba Inu demonstrated an impressive 41% increase in large transactions within the previous 24 hours, with a total of $29.74 million shuffled. Over the past week, the number of transactions worth at least $100,000 rose from 48 to 209. In terms of volume, large transactions over the previous 24 hours totaled 1.68 trillion SHIB moved across chains. Additionally, there has been a substantial increase, with the transaction volume shifting from a low of 925.75 billion SHIB to a high of 3.42 trillion SHIB within the past week. At the moment of those transactions taking place, SHIB has rebounded slightly by 0.44%, as whales seem to have helped reboot its price. Currently, however, the token is trading down 0.76%, at $0.00001769, according to CoinMarketCap.

Tesla (NASDAQ:TSLA) Confirms It Still Holds Bitcoin

Leading e-car manufacturer Tesla addressed community speculation about potential sell-offs, stating that it continues to hold its Bitcoin assets. This comes following Arkham Intelligence logging a series of transfers to unknown wallets, which were later clarified as wallet rotations. Following a report of better-than-expected earnings, Tesla's stock surged over 12% in premarket trading, with Musk noting that the company achieved record profits despite a challenging automotive market. Additionally, Tesla is preparing to launch new vehicle offerings in the first half of 2025 and has introduced a ride-hailing service for employees in San Francisco, set to be available to the public next year in California and Texas.

This article was originally published on U.Today